Ireland Trade Surplus Narrows in January

The first figures for January 2013 show a seasonally adjusted increase in exports of €35 million (or 0.5 percent) to €6,850 million from December 2012. Imports increased by €179 million (or 5 percent) to €3,962 million resulting in a 5 percent decrease in the seasonally adjusted trade surplus to €2,889 million.

Comparing January 2013 with January 2012, the value of exports decreased by €882 million (or -12 percent) to €6,788 million. The main drivers were decreases in the exports of organic chemicals of €681 million (or -32 percent) and €365 million (or -18 percent) in medical and pharmaceutical products.

On an overall basis the EU accounted for €3,784 million (or 56 percent) of total exports in January 2013. The USA was the main non-EU destination for exports accounting for 24 percent (€1,610 million) of total exports in January 2013.

Comparing January 2013 with January 2012, the value of imports decreased by €40 million (or -1 percent) to €4,424 million. While imports of chemicals and related products increased by €118 million and food and live animals increased by €43 million, there was a decrease of €253 million in the imports of other transport equipment (including aircraft).

The EU was the main source of imports accounting for 62 percent of the value of imports in January 2013, with 29 percent coming from Great Britain. The USA (17 percent) and China (5 percent) were the main non-EU sources of imports.

CSO | Nuno Fontes | nuno@tradingeconomics.com3/14/2013 11:21:58 AM

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